Every time YA converts - Whatever, price and total amount converted comes off their Series C preferred holding's "YES".
* Let me put it to you this way. YA started off with 22 million in Series C preferred and as of April 23 had converted less then 3.5 million for some 850 million shares. So the game has only begun. However, the higher the pps the lower the converted shares. e.g. YA had to start 22,000 Series C preferred shares, each share representing $1,000 dollars. When they convert, the lowest closing bid for the last 30 trading days becomes their rate and whatever that number is say, .001 it gets divided into 1,000.00 to determine the amount of "now" Common shares issued and held by YA Global.
1,000 / .01 = 100,000 shares
1,000 / .02 = 50,000 shares
Now one would assume YA is better off letting the pps run up and then converting "Right?" right. Especially, considering that YA has a fixed Conversion rate of no more then .02 cents forever more. e.g. Even if the pps hits $1.00 YA can still convert their Series C preferred for .02 a share.
Now, being that YA has converted and for all intensive purposes appears to continue converting. It can only mean YA knows that Neom isn't going anywhere ala a sale and that Neom isn't making enough headway to justify a pps higher then .02 cents. Otherwise, they would let it move up - Remember, they have a fixed rate of .02 cents So it's not like they would suffer if the pps rises. It's more like they know the results won't warrant a higher pps and before the retail sector takes the money off the table - THEY DO! Evidenced by how quick we jumped up and back down the next day! and no matter what anybody says the deal with Mobile Tag isn't much and in no way can it guarantee anybody else will license (at least for the short term)
So, YA Global knows it was best to take the profits now (as they did) and maintain a low conversion rate for the next advancement e.g License signing or whatever! Remember, YA's conversion rate is based on the 97% of the lowest closing bid for the preceding 30 days and also remember this - there is no way possible that we will see good results of any kind in the 2Q reporting. None whatsoever, it will be all BAD! Which would've tanked the pps anyhow! So, YA pulled the profits. We will probably see some b.s. PR's before reporting for another little pps rise and YA will do the same. All of this is just my opinion of course!
Very hard to explain all of this via text as the conversation in words would require a 1/2 hour to explain at minimum.
